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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think we CAN live on the mortgage

743 replies

JaneEyre40 · 28/05/2025 09:34

Advice please -

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Considering all other possible outgoings, do you think we can afford this and not feel pressured each month. What am I not considering? We've done the spreadsheet but I'm still unsure.

We will have about £65,000 in savings at the beginning of this venture.

Thanks in advance. House of a lifetime.

OP posts:
Chaaachaaaa · 28/05/2025 12:21

I'm quite surprised Council tax is so low with an expensive mortgage/ house of a lifetime? If you're worried about health problems etc get private medical and income protection if you haven't already and it makes you feel better? We bought a bigger house and suddenly cleaning it became THE issue (especially if you have 4/5 bathrooms). So I'd factor in a cleaner approx £250 a month. Your bills on a bigger house may well be much bigger ( 2 x 1998 houses, 2nd one double the size and bills approx 3 x bigger). Also, big house you do end up hosting more and so that's another expense.

Original poster
JaneEyre40 · 28/05/2025 12:21

Didimum · 28/05/2025 12:16

Hi, OP. Ignore the angry mumsnetters.

This is similar to our set up, and I'l be honest – it hasn't been easy.

Our take home is £9,700, mortgage was £3,400, but now just remortgaged to £2,900 (which is a relief). Our childcare is around £600 a month.

The biggest factor for us as been up keeping the house. It needed a lot of work, and it will be ongoing for quite a while. We were aware of all its issues, so there's been no surprises, but it is a complete money sucker. We've spent around £60k on the house so far and have another £50k or so to go, we think. We are fairly tight with savings too and hate dipping into them, so that's been a mental challenge – bothers some people more than others!

I also have fairly substantial commuting costs (£600p/m).

It's completely manageable of choice, and a lot of freedom of choice. But it's also not a walk in the park. I don't regret the house choice or mortgage amount, but having so much to pay off its daunting.

Thank you. I'm completely ignoring any comments without advice (why do these people waste their time).

We don't have any work to do on the house thankfully. We don't intend on any holidays for a few years bar Ireland to see family.

Can I ask who your lender is for the remortgage?

OP posts:
ObtuseMoose · 28/05/2025 12:20

If I was such a low earner I'd be uncomfortable with that mortgage.

Didimum · 28/05/2025 12:20

JaneEyre40 · 28/05/2025 12:12

Yes exactly, we put down a deposit of about £300,000. We thought putting more money into the deposit was better than holding back savings.

1 child that's it.

State school 100%

Salary 1 - 4,200 monthly net
Salary 2 - 5,200 monthly net

Large house but not old. Council tax is 230 monthly.

Show quote history

Salary 1 - 4,200 monthly net
Salary 2 - 5,200 monthly net

You say in original post your income is £10.5k? Where's the extra coming from?

Pollyminx3 · 28/05/2025 12:20

If you only have one child why would you need a really large house?

I think the fact that you can’t calculate this and think of all variables suggests it’s probably not the right decision.

Sapana · 28/05/2025 12:19

@bluesinthenight chatgpt is not a substitute for fucking human interaction.
Why should she ask chatgpt? You don't have to answer or even look. If you weren't so keen on outsourcing your brain to an algorithm maybe you'd be less deskilled, more successful, and not feel compelled to post bitter little takedowns of people who dare to have money. I will never in my lifetime earn anywhere near what OP's family have but slagging her off won't change that.

AllyCart · 28/05/2025 12:19

@Didimum

Hi, OP. Ignore the angry mumsnetters

Just how far up your own arse do you have to be to post on a thread telling OP to ignore other people's opinions and listen to yours instead.

HoskinsChoice · 28/05/2025 12:19

JaneEyre40 · 28/05/2025 09:34

Advice please -

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Considering all other possible outgoings, do you think we can afford this and not feel pressured each month. What am I not considering? We've done the spreadsheet but I'm still unsure.

We will have about £65,000 in savings at the beginning of this venture.

Thanks in advance. House of a lifetime.

Do you think you could stretch to buying the mumsnet members a tiny violin so we can play it whilst you're worrying about your financial woes?

Plumnora · 28/05/2025 12:19

Seriously?? You have £6 after your mortgage every month and £65K saved? That more than many of us can even dream of and we're bringing up kids alone plus paying a mortgage. I have less than £1k left after my outgoings and I consider myself lucky. You'll be more than ok.

rosemarble · 28/05/2025 12:18

JaneEyre40 · 28/05/2025 12:07

I don't care.

Show quote history

I don't think people have an issue with your salary per se (plenty of people are higher earners), it's more that you're asking what to many seem like basic financial questions that you should really have a handle on, rather than coming to MN to ask.

It comes across (to me at least) as rather blasé. Just Google what 'stoppages' means.

Original poster
JaneEyre40 · 28/05/2025 12:18

notprincehamlet · 28/05/2025 12:16

You might have to forgo the pastry chef but just remind yourself as you're having to assemble your own croquembouche that what doesn't kill you makes you stronger

Thank you but I'm gluten intolerant so had to let the pastry chef go.

OP posts:
Original poster
JaneEyre40 · 28/05/2025 12:17

Yellowhammer09 · 28/05/2025 11:07

It depends. If the higher earner lost their job, could the other afford the mortgage and other bills? How easy is it to get a similar paying job?

Our income is roughly similar but DH brings home way more than I do, and we'd struggle with a mortgage that big if he lost his job.

This is the kind of comment I need. Obviously, I've thought through these things but sometimes you need to hear it from others. Maybe we need to be more frugal with the choice of property.

OP posts:
notprincehamlet · 28/05/2025 12:16

You might have to forgo the pastry chef but just remind yourself as you're having to assemble your own croquembouche that what doesn't kill you makes you stronger

Didimum · 28/05/2025 12:16

Hi, OP. Ignore the angry mumsnetters.

This is similar to our set up, and I'l be honest – it hasn't been easy.

Our take home is £9,700, mortgage was £3,400, but now just remortgaged to £2,900 (which is a relief). Our childcare is around £600 a month.

The biggest factor for us as been up keeping the house. It needed a lot of work, and it will be ongoing for quite a while. We were aware of all its issues, so there's been no surprises, but it is a complete money sucker. We've spent around £60k on the house so far and have another £50k or so to go, we think. We are fairly tight with savings too and hate dipping into them, so that's been a mental challenge – bothers some people more than others!

I also have fairly substantial commuting costs (£600p/m).

It's completely manageable of choice, and a lot of freedom of choice. But it's also not a walk in the park. I don't regret the house choice or mortgage amount, but having so much to pay off its daunting.

Sapana · 28/05/2025 12:16

CleanShirt · 28/05/2025 09:41

Are your diamond shoes too tight?

Oh leave her be. She's saying it's fine, isn't she?

Original poster
JaneEyre40 · 28/05/2025 12:15

Supergirl1958 · 28/05/2025 10:14

£3, 700 a month for a dream house? Are you buying Buckingham Palace?

Edited
Show quote history

London

OP posts:
Original poster
JaneEyre40 · 28/05/2025 12:15

bluesinthenight · 28/05/2025 11:46

This post is actually in poor taste given that so many are struggling with the cost of living right now. You might just as easily have asked Chatgpt.

You don't have to read it. My job is extremely stressful and I work assisting other people but thanks for the post.

OP posts:
ThisIsMyYearToFindMyself · 28/05/2025 12:14

@JaneEyre40 so still zero information about outgoings.

🤷‍♀️

Original poster
JaneEyre40 · 28/05/2025 12:13

IDontHateRainbows · 28/05/2025 12:08

Ha ha very funny OP. You've missed April fools day by a number of weeks though .

Or maybe you're the fool.

Sorry?

OP posts:
Youbutterbelieve · 28/05/2025 12:12

What condition is the house in? If it's in good condition then I think you'll be ok - it won't be particularly comfortable though. A house of that much is likely to cost a lot in bills and upkeep.

Think about the future as well, do you plan of having more children?

Do you pay monthly for a car or 2?

Our income is about 3/4 of your and our mortgage just over half and with all other bills, we don't find it comfortable.

Original poster
JaneEyre40 · 28/05/2025 12:12

MiracleCures · 28/05/2025 12:09

Are you planning any more children ? Could you cope it nursery fees go up ?

What's the income split? Could you squeak by on one salary if necessary? (That's always been my limit).

Do you have any plans to play school fees?

Why so little savings on such a high salary? Or it because most will go into the house purchase?

Is it a large/old house? If so what are the likely running costs?

Yes exactly, we put down a deposit of about £300,000. We thought putting more money into the deposit was better than holding back savings.

1 child that's it.

State school 100%

Salary 1 - 4,200 monthly net
Salary 2 - 5,200 monthly net

Large house but not old. Council tax is 230 monthly.

OP posts:
vodkaredbullgirl · 28/05/2025 12:10

🤔ok

Original poster
JaneEyre40 · 28/05/2025 12:10

Mostunexpected · 28/05/2025 12:08

Your tax, national insurance, pension contributions... just anything they take out of your wages.
You've said that the 10.5k is net - so I think you'll be fine. Unless you do have some ridiculously expensive habits or hobbies!

Show quote history

No no nothing ridiculous. Thank you. I guess the worry is about cost of living, health issues etc.

OP posts:
MiracleCures · 28/05/2025 12:09

Are you planning any more children ? Could you cope it nursery fees go up ?

What's the income split? Could you squeak by on one salary if necessary? (That's always been my limit).

Do you have any plans to play school fees?

Why so little savings on such a high salary? Or it because most will go into the house purchase?

Is it a large/old house? If so what are the likely running costs?

Original poster
JaneEyre40 · 28/05/2025 12:08

Nousernameforme · 28/05/2025 12:02

Have you won the set for life 10k a month @JaneEyre40 or is this just a thought experiment incase you do? Have you been window shopping on Rightmove?

No, it's actually happening, it's been a long time coming. Yes these salaries should be long term.

OP posts:
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